Morningstar UK has acquired Old Broad Street Research

Morningstar UK Ltd., a subsidiary of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has acquired Old Broad Street Research Ltd. (OBSR), a premier provider of fund research, ratings, and investment consulting services in the United Kingdom, for 11.95 million pounds sterling, or approximately U.S. $18.3 million, subject to post-closing adjustments. This is the fourth Morningstar acquisition reported on Fusion DigiNet since February.

Managing directors Richard Downs, Richard Romer-Lee, and Nigel Whittingham will continue to lead the business. The subsidiary will be called, “OBSR, a Morningstar company.”

“Morningstar is a good cultural fit for OBSR. Our research team is renowned in the industry for its quality and experience. Becoming part of a global company with greater resources will enable the team to continue to take the business forward,” said Richard Downs, managing director of OBSR. “The investment and advice world is changing, particularly with the introduction of the Financial Services Authority’s Retail Distribution Review (RDR). As part of Morningstar, we will be able to leverage its core skills in research, design, technology, and data to develop a best-in-class solution that builds on our experience in this area.”

Aprox. Value:  £11.95 million / $18.3 million
Acquirer:  Morningstar UK
ACQ Web: 
Location:  UK, London
Region:  Europe
Description:  Morningstar, Inc. is a provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 350,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 20 countries and minority ownership positions in companies based in two other countries.
Category:  Publisher, Media, Finance, Research  
Contact1:  Joe Mansueto, Chairman of the Board, Chief Executive Officer
Contact 2:  Scott Cooley,  Chief Financial Officer
Contact 3:  Don Phillips, president of fund research 
Vendor:  Old Broad Street Research
Vendor Web:
Location:  UK, London
Region:  Europe
Description:  OBSR is a UK based research and consulting firms. OBSR offers an array of customised consulting services including model portfolios, advice on fund construction, and corporate governance services, which are used by many of the leading financial advisers, life offices, and fund platforms. OBSR was established in 1999 after co-founders Richard Downs and Richard Romer-Lee purchased the research business of Buck Investment Consultants Ltd., which was created in 1994. The company has 30 employees.
Category: Market research, Consultancy
Contact 1:  Richard Downs, Managing Director
Contact 2:  Nigel Whittingham, Development Director
Contact 3:  Richard Romer-Lee, Research Director 

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FDN Database Reference:  F231109-385
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